Private property rights exist when property rights are
What will be an ideal response?
exclusively controlled by the owner or owners.
b. transferable to others.
c. protected by legal enforcement.
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The argument that import restrictions save jobs and promote prosperity fails to recognize that:
A. there are no secondary effects of import restrictions. B. import restrictions will lower prices in the protected industries. C. import restrictions cannot create jobs in any industries. D. U.S. imports provide people in other countries with the dollars power required for the purchase of U.S. exports.
If the Fed buys a T-bill from a commercial bank, how will it pay for the T-bill?
A. It will give the bank new reserves. B. It will write the bank a check. C. It will transfer cash to the bank’s vault. D. It will take reserves from another bank.
Everything else remaining unchanged, what is likely to happen to the equilibrium quantity of credit and the real interest rate if:
a. the credit demand curve shifts to the right? b. the credit supply curve shifts to the left? What will be an ideal response?
The country of Bananaland has an abundant supply of banana trees and therefore must be a modern industrial economy
a. True b. False